Check Point Software Technologies (NASDAQ:CHKP) Price Target Raised to $221.00

Check Point Software Technologies (NASDAQ:CHKP) had its price objective raised by equities research analysts at JPMorgan Chase & Co. from $207.00 to $221.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 0.53% from the company’s current price.

CHKP has been the topic of a number of other research reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 price objective on shares of Check Point Software Technologies in a research report on Monday. Truist Financial reissued a “buy” rating and set a $250.00 price target (up previously from $220.00) on shares of Check Point Software Technologies in a research report on Friday. The Goldman Sachs Group cut shares of Check Point Software Technologies from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $204.00 to $207.00 in a research report on Thursday, January 2nd. Stifel Nicolaus boosted their target price on shares of Check Point Software Technologies from $190.00 to $220.00 and gave the company a “hold” rating in a report on Friday. Finally, Piper Sandler raised their price target on shares of Check Point Software Technologies from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Eighteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $214.57.

Check Point Software Technologies Stock Performance

Shares of NASDAQ CHKP traded up $0.83 during mid-day trading on Friday, reaching $219.82. The company’s stock had a trading volume of 534,798 shares, compared to its average volume of 797,466. The stock has a 50-day moving average of $187.94 and a two-hundred day moving average of $187.44. The stock has a market capitalization of $24.18 billion, a P/E ratio of 30.07, a P/E/G ratio of 3.19 and a beta of 0.63. Check Point Software Technologies has a 1-year low of $145.75 and a 1-year high of $226.02.

Check Point Software Technologies (NASDAQ:CHKP) last released its earnings results on Tuesday, October 29th. The technology company reported $2.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.25. The business had revenue of $635.10 million for the quarter, compared to analyst estimates of $634.96 million. Check Point Software Technologies had a net margin of 33.17% and a return on equity of 31.84%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $1.80 EPS. Analysts predict that Check Point Software Technologies will post 7.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Check Point Software Technologies

Several large investors have recently bought and sold shares of the stock. FSA Wealth Management LLC acquired a new position in shares of Check Point Software Technologies during the third quarter worth $27,000. GAMMA Investing LLC boosted its position in shares of Check Point Software Technologies by 53.1% during the 4th quarter. GAMMA Investing LLC now owns 173 shares of the technology company’s stock worth $32,000 after acquiring an additional 60 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of Check Point Software Technologies in the 3rd quarter valued at about $33,000. Golden State Wealth Management LLC acquired a new stake in shares of Check Point Software Technologies during the 4th quarter worth about $35,000. Finally, Strategic Financial Concepts LLC acquired a new position in Check Point Software Technologies in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Check Point Software Technologies Company Profile

Check Point Software Technologies Ltd. develops, markets, and supports a range of products and services for IT security worldwide. The company offers a multilevel security architecture, cloud, network, mobile devices, endpoints information, and IOT solutions. It provides Check Point Infinity Architecture, a cyber security architecture that protects against fifth generation cyber-attacks across various networks, endpoint, cloud, workloads, Internet of Things, and mobile.